The Eastern Highlands Provincial Government has signed Memorandum of Agreement with McKinley Asia PNG Limited for Investments in Smart Agriculture and Livestock Projects worth K44.85 Billion.
The signing witnessed by Prime Minister James Marape, Agriculture Minister John Simon, McKinley Asia PNG Limited CEO Min-Ho Hwang, and other dignitaries.
Prime Minister James Marape stating the National Government will fully assist EHP Provincial Government with the project to see the establishment of downstream processing center for Agriculture Produce and Livestock.
Together in this partnership EHPG and McKinley are expected to achieve and transform sustainable Agriculture based economy and provide food security locally and internationally.
The Signing of K45 Billion Downstream processing center in the province of locally produced agriculture and livestock which will be supplied locally and exported internationally.
McKinley Asia-PNG Limited is a Subsidiary of United States based McKinley Investment Group LLC, headquartered in the Beverly Hills, an international group of companies specializing in fund managements with operations spanning over 100 countries across the globe.
The Company specializes in Fund Management and major Project Financing and focus on supporting and growing developing economies around the globe.
Prime Minister James Marape there to witness the signing of the MOA was pleased with the signing and assured both parties of the national Government Support.
Marape going on to state that his government welcomed investment but wanted real investors who are willing to spend before the government can look at concessional taxes.
The Agreement is divided into two phase;
Phase 1: Pilot Project and Phase 2: Feasibility & Construction for Various Projects.
By Adelaide Sirox Kari